BYJU’s targets profitability in the current fiscal year

Education technology start-up Byju’s (Think and learn Pvt. Ltd) has updated its app to incorporate a a personalised learning approach that will serve content based on the student’s aptitude and grasping ability, even as the company aims to turn profitable in the current fiscal. The company on Tuesday also launched a separate parent connect app that will help parents monitor their child’s progress. Raveendran claimed that Byju’s clocked about ₹260 crore in revenue last fiscal and will turn profitable in fiscal 2017-18. “We will soon become a profitable unicorn,” said Raveendran. Start-ups who command more than a billion-dollar valuation are called unicorns. The company was valued at $600-650 million during its last fundraise, a $30-million round from VerlInvest, a Brusselsbased family firm. Byju’s has been one of the few growth stage start-ups to have raised multiple rounds of funds in 2016. The company had raised about $75 million from Sequoia Capital and Belgian family office Sofina in March 2016.